https://www.taxtmi.com/caselaws?id=296896 The Tribunal admitted the Company Petition for initiating Corporate Insolvency Resolution Process under Section 10 of the Insolvency and Bankruptcy Code. The Tribunal acknowledged the company's default in payments to creditors and eroded net worth, appointing an Interim Resolution Professional to oversee the process. Orders were passed declaring a moratorium, directing public announcement, and instructing cooperation from company personnel. The Interim Resolution Professional was tasked with forming a creditors' committee and conducting the first meeting within 7 days. Further proceedings were scheduled to ensure compliance with relevant regulations for effective resolution of insolvency. en-us Fri, 10 Feb 2017 00:00:00 +0530 Wed, 11 Aug 2021 09:18:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296896 The Tribunal admitted the Company Petition for initiating Corporate Insolvency Resolution Process under Section 10 of the Insolvency and Bankruptcy Code. The Tribunal acknowledged the company's default in payments to creditors and eroded net worth, appointing an Interim Resolution Professional to oversee the process. Orders were passed declaring a moratorium, directing public announcement, and instructing cooperation from company personnel. The Interim Resolution Professional was tasked with forming a creditors' committee and conducting the first meeting within 7 days. Further proceedings were scheduled to ensure compliance with relevant regulations for effective resolution of insolvency. Case-Laws Insolvency and Bankruptcy Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296896